|| Interesting thoughts, Michael, thanks for sharing them.
A risk management plan is essential for all investors (and we are all investors implicitly even folks who don't trade the liquid markets), and defining the exit scenarios before going into a trade is helpful and a sign of discipline.
Setting stops when entering a trade, using various methodologies, is one of the best ways to go. (Folks who use a value investing approach have a different approach to risk mgmt.)
Good stuff, thanks,
Private Reply to Adrian Scott (new win)